Federal Reserve System
Canada’s Carney named CGFS chair
Bank of Canada governor Mark Carney to step into Federal Reserve vice-chairman Donald Kohn’s shoes and head Basel-based Committee on the Global Financial System; follows Kohn’s retirement
Fed’s Warsh: market panic a signpost, not source of global economic woes
Market volatility merely a signal of how far we are away from the new normal; warns against expecting monetary and fiscal policy to do too much
Hawkish BIS warns on dangers of ultra-low rates
Bank for International Settlements says degree of slack likely to be smaller than suggested by output gap models
US lawmakers seal deal on reform bill
Members of the House of Representatives and Senate conclude the conference process; text includes part of the Volcker rule, surprise bank levy, and stronger-than-expected Fed audit clause
Central banks’ holdings of US agency debt rise on dollar demand
Fed data show official-sector holdings of US agency securities rose for a 12th straight week; auction for seven-year US Treasury bills displayed growing demand for dollar denominated assets
Philly Fed: freedom of databases may improve market oversight
Philadelphia Federal Reserve study on macro-micro databases shows that had information been made readily available, the crisis may have been less pronounced
Russian FX regime change ties rates closer to Europe: Bank of Finland
Bank of Finland study shows Russian interest rates moved more in line with Europe than the United States, following overhaul of exchange rate basket
Eurozone crisis threatens Canadian financial stability
Bank of Canada links deterioration of risks surrounding global imbalances and the growth outlook to single currency zone’s sovereign debt crisis
Fed calls on banks to step up pay reform
A Federal Reserve review on executive compensation says firms need a more comprehensive review of risks relating to misaligned pay incentives
Broader card payment security measures may minimise fraud: Kansas Fed
Kansas Federal Reserve study on card payment fraud says more can be done to improve the security of card based transactions
Bernanke supports greater macroprudential focus in regulation
Federal Reserve chairman Ben Bernanke says reform must focus on macroprudential financial regulation in line with Squam Lake report
China bubble unlikely to derail recovery: St Louis Fed's Bullard
St Louis Federal Reserve president James Bullard says concerns over bubble in China are over exaggerated
Top economists call for central banks to oversee financial stability
Leading thinkers including former Federal Reserve Board governor Frederic Mishkin say central banks should watch financial stability; set of crisis prevention proposals include limits on bankers’ pay
Fed could win fight on monetary policy audit: reports
Media reports saw lawmakers in Congress's lower house could relent on forcing monetary policy decisions to be audited, as lawmakers work to forge swift agreement
Bank’s Posen stoutly defends ECB bond purchases
Bank of England rate-setter Adam Posen slams critics who claim bond purchases will impinge upon central bank’s independence; says given low interest rates, bond purchases are essential monetary policy tool
St Louis Federal Reserve: African Americans have endured economic disadvantage
A St Louis Federal Reserve study compares the economic progress of African Americans against white Americans and finds significant differences in access to labour markets
New York Fed - Annual Report (2009)
New York Federal Reserve Bank remitted almost $24 billion to the US Treasury in 2009
Kohn to remain at Fed until September
Vice chairman to stay on as governor until Congress appoints replacement
Foreign holdings of US Treasuries slide after two weeks of gains
Data show holdings of US Treasuries by foreign central banks with accounts at the Federal Reserve declined this week, cancelling out two week of gains
Bernanke: US should not rely on safe haven status of dollar
Federal Reserve chairman Ben Bernanke said country should take measures to cut deficit despite unique role in global currency markets
Federal Reserve - Beige Book (June 2010)
The Federal Reserve’s June Beige Book shows economic conditions in the twelve Federal Reserve Districts improved moderately
NY Fed’s Sack on central banks’ role as liquidity providers
New York Fed markets chief Brian Sack says provision of liquidity to markets essential, but unconventional programs must be reviewed
Print more $2 bills, Taco Bell tells Fed
Marketing gimmick calls on customers to “appeal to” Fed to print more $2 notes
Boston Fed - Annual Report (2009)
Boston Federal Reserve's Annual Report shows economic difficulties persisted through last year